Thailand’s foreign reserves as of June 17 increased US$800 million or 28 billion baht to US$179.7 billion or 6.34 trillion baht based on the exchange rate of 35.15 baht/US dollar, according to the Bank of Thailand.
Last week’s foreign reserves stood at US$178.9 billion or 6.307 trillion baht.
Thailand’s forward stood at US$15.1 billion, representing a slight increase of US$100 million compared to last week’s forward US$ 15.0 billion, resulting in net foreign reserves amounting to US$194.8 billion compared to last week’s net foreign reserves of US$193.9 billion.
A currency trader at the Siam Commercial Bank said that it was possible that the central bank might have bought more foreign currencies to be kept as reserves to prevent bank from strengthening too fast which will pose an obstruction to domestic economic recovery.
Revolving cash of the private sector and financial institutes’ cash deposits with the central bank stood at 1.5 trillion baht compared to last week’s 1.572 trillion baht.
